SBAC Supported Health Insurance Co-Op Bill Makes It Past Committee With A 14-5 Vote


March 16, 2011
We are proud to announce that on March 15th an SBAC supported Co-op bill drafted by State Representative Karen May was voted on and got out of Committee by a vote of 14-5. The bill will next be placed on the agenda for a second reading in the coming weeks.

The bill HB3236, which is supported by the Department of Insurance, would establish health care co-ops for small business owners in Illinois. This goes part and parcel with our efforts to create a health insurance pool for our members. Moreover, the Health Care Act appropriates 6 billion dollars in grants and loans to encourage the creation of these co-ops.

Regardless of how you feel about the health care legislation, it is presently the law of the land and it would be a shame if Illinois small business owners did not take advantage of the funds available to create these co-ops. The co-ops will increase buying power and stabilize or lower premium rates.

HB3236 (May)
– Health Benefit Purchasing Co-op for Small Businesses

Allows small business to create non-profit health insurance cooperatives and provides guidelines and criteria for the creation of these health benefit purchasing cooperatives. These cooperatives would be a lower-cost alternative to the purchase of health benefits directly through insurance companies as they will increase buying power and stabilize or lower premium rates. The Health Care Act appropriated 6 billion dollars in federal grants and loans to encourage the creation of health benefit cooperatives. This legislation would allow Illinois small business to access this federal money. It is supported by the Illinois Department of Insurance.

Please contact your State Representative (you can find him or her at www.ilga.gov) and ask them to support the bill.